The rupee edged lower by 4 paise to 88.30 against the US dollar in Monday’s early trade, amid range-bound movement and pressure from tariff-related concerns on India’s exports.
According to forex traders, the domestic currency moved in a narrow band, weighed down by worries over US trade tariffs and continued foreign portfolio outflows, even as hopes of a US rate cut offered some support.
At the interbank foreign exchange market, the rupee opened at 88.25 and later slipped to 88.30 per dollar, down 4 paise from its previous close.